Volvo pledges to produce only electric vehicles by 2030
March 2, 2021, 11:12 am

Volvo pledges to produce only electric vehicles by 2030

In this February 6, 2020 file photo a Volvo car is parked behind the Volvo logo in the lobby of the company's corporate headquarters, in Brussels. (AP)

Volvo says it will make only electric vehicles by 2030. But if you want one, you’ll have to buy it online.

The Swedish automaker said Tuesday that it is phasing out the production of all cars with internal combustion engines — including hybrids.

“There is no long-term future for cars with an internal combustion engine,” said Henrik Green, Volvo’s chief technology officer.

Volvo’s announcement follows General Motors’ pledge earlier this year to make only battery-powered vehicles by 2035.

Volvo also said that, while its all-electric vehicles will be sold exclusively online, dealerships will “remain a crucial part of the customer experience and will continue to be responsible for a variety of important services such as selling, preparing, delivering and servicing cars.”

As part of the announcement Tuesday, the Swedish automaker will unveil its second fully electric car, a follow-up to last year’s XC40 Recharge, a compact SUV. Volvo said its goal is to have half of its global sales to be fully electric cars by 2025, with the remaining half made up of hybrids.

Electric cable connects to the XC40 after Volvo Cars revealed its first fully electric car Wednesday, October 16, 2019, in Los Angeles. (AP)

Automakers around the world are ramping up production of electric vehicles as charging technology improves and governments impose stricter pollution regulations.

“We are firmly committed to becoming an electric-only car maker,” Green said. “It will allow us to meet the expectations of our customers and be a part of the solution when it comes to fighting climate change.”

Despite the rising number of EVs available in the US, fully electric vehicles accounted for less than 2 percent of new vehicle sales last year. Americans continue to spend record amounts on gas-powered trucks and SUVs.

About 2.5 million electric vehicles were sold worldwide last year and industry analyst IHS Markit forecasts that to increase by 70 percent in 2021.

Volvo says it sold 661,713 cars in about 100 countries cars worldwide in 2020. According to Autodata Corp., 107,626 of those vehicles were sold in the US.

Founded in 1927, Volvo Cars has been owned by China’s Zhejiang Geely Holding Group since 2010.

source: The Associated Press

Image source: AP

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has announced its sponsorship of the “Innovation and Sustainable Technology Solutions Competition (GU - IST Solutions), hosted by Gulf University at its main campus.
This strategic sponsorship reflects BENEFIT’s active role in advancing technological innovation and fostering sustainable solutions to future challenges. It also seeks to empower Bahraini youth by enhancing their skills, capabilities, and competitiveness in innovation and solution development—contributing meaningfully to the broader goals of sustainable development across all sectors.
As part of BENEFIT’s active involvement in the competition, the company has announced that Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication, will serve on the competition’s supervisory committee. Her upcoming participation reflects BENEFIT’s forward-looking commitment to championing academic and professional excellence.
Commenting on the occasion, Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication at BENEFIT, said, “We are privileged to support this pioneering initiative, which aligns seamlessly with BENEFIT’s enduring commitment to fostering innovation and nurturing the potential of Bahrain’s youth. Our participation is rooted in a deep sense of social responsibility and a firm belief in the pivotal role of innovation in shaping a sustainable future. Through such platforms, we seek to empower the next generation with the knowledge, skills, and foresight required to develop impactful solutions that address future challenges, in line with the United Nations Sustainable Development Goals 2030.”
Dr. Aseel Al Ayash Dean of the College of Engineering in Gulf University commented, “We extend our sincere gratitude to BENEFIT for their generous sponsorship and support of the Innovation and Sustainable Technology Solutions Competition. This contribution plays an instrumental role in helping us achieve the strategic goals of this initiative, namely, cultivating a culture of innovation and sustainability, encouraging efforts that address the imperatives of sustainable development, and enhancing the practical and professional capabilities of our students and participants.”
The event will bring together a diverse spectrum of participants, including secondary school students, university undergraduates, engineers, industry professionals, entrepreneurs, academic researchers, and subject matter experts representing a wide range of disciplines.
The competition seeks to inspire participants to develop and present innovative, sustainable technologies aimed at addressing pressing environmental, social, and economic challenges. It encourages the formulation of business models that integrate advanced technological solutions with core principles of sustainability. Moreover, it serves as a platform for emerging leaders, entrepreneurs, and innovators to contribute to the advancement of the Sustainable Development Goals, promote the ethos of responsible technology, and demonstrate its transformative potential across various sectors.
Attendees will have the opportunity to view a series of project presentations submitted by participants, covering diverse areas such as eco-friendly product design, smart and sustainable innovations, renewable energy technologies, water conservation and management, waste minimisation and recycling, green architectural solutions, and sustainable transportation systems. Outstanding projects will be formally recognised and awarded at the conclusion of the event.